Enable Supplier Collaboration
The relationship between buyer and supplier is a foundational element of business. When that relationship is collaborative and cooperative, both parties benefit from the efficiency, and that relationship becomes a “partnership” rather than a means to an end.
Transform your supplier relationships into healthy, productive partnerships with better communication and management tools by using SourceDay’s solution.
Remove barriers to supplier communications.
Purchase orders change about 52% of the time, and all too often these changes lead to frustration and finger pointing between you, your associates, and your suppliers. With SourceDay, suppliers are brought into the fold, enabling better collaboration and accountability. Manage performance through Supplier Scorecards with customizable metrics, and provide a modern, truly collaborative portal for suppliers.
Minimize Your Risk with Supplier Scorecards
Two-way communication creates a collaborative experience between buyers and suppliers. This is essential for any business to be successful; the better the communication in a business relationship, the better the process runs. A supplier portal creates a central hub for all your data—keeping critical data visible to both parties, 24/7. Accessibility to such data allows for a more accountable system of checking status and identifying areas for improvement.
Measure what matters most to your business and hold suppliers accountable with configurable scorecards that look at metrics like on-time delivery and responsiveness. These at-a-glance “scorecards” allow for easy updates on performance, encouraging efficiency and high-quality productivity across the board.
Eliminate Human Error with a Better Supplier Portal
A robust supplier portal cuts down manual processes and provides a secure, transparent source of accurate data for order management. However, many portals lack key functions to achieve these goals, leading to unfortunate issues with consistent delivery of goods and services within your company and from your company.
Our supplier portal breaks tradition with two-way communication, performance tracking, and automatic invoice matching. From the day a product order (PO) is issued until the invoice is paid, both buyer and supplier are guaranteed reliable data and communication avenues, eliminating human mishap and miscommunication.
Present Detailed Dashboards to Executive Teams
SourceDay’ Insights gives executives the ability to visualize supply chain data that would otherwise be hidden or difficult to obtain. These dashboards provide real-time metrics that businesses can immediately take action on to prevent risk and protect revenue.
Executives need to know when the status of a product or a supplier is going to impact their own production and, consequently, their customers. SourceDay’s dashboards show quick views to help busy executives manage by exception, and make proactive decisions on their supply chain to successfully project their business.
Create Transformation with Strategic Supplier Onboarding
As markets constantly change, suppliers change with them. Onboarding is not a one-time event, but rather an ongoing practice that must be managed well for the sake of buy-side companies and their suppliers.
Our supplier onboarding process is key to our customer’s success. We guarantee an easy supplier adoption, but the truth is that 50-75% of your suppliers are probably already using SourceDay! Many suppliers have already found the benefit of this platform in their communications and management. If your supplier isn’t with us already, introducing them to this avenue for collaboration will be a substantial benefit for both parties.
Work directly with your suppliers to receive clear purchase orders without a middleman. Standardize communication to reduce delays, errors, and frustrations. Expedite acknowledgments and track changes to lead times, pricing, quantities, and delivery dates – all in one place, in real-time.
Digitize and verify every supplier invoice with comprehensive automated 3-way matching. Automatic vouchering helps you to take advantage of early payment discounts while keeping your suppliers informed – from invoice receipt to payment. 95% of your invoices will be processed touchless. Select the chosen matching rules based on your business needs.
Digitize your RFQ process and be sure you get the best pricing, lead times, and delivery terms. Send RFQs to multiple suppliers at once, then review submissions in an easy-to-read bid comparison chart. Manage your budget effectively with supplier quotes and SourceDay’s supply chain solutions. You won’t have to worry about paying unnecessary fees. Find a supplier that offers the best quality products at the lowest price.
Have a question?
Fill out this brief form to schedule a call with one of our team members.